On Tuesday, U.S. President Donald Trump stated that he had received a noteworthy letter from Ukrainian President Volodymyr Zelenskyy earlier in the day. According to Trump, the letter explicitly mentioned that Kyiv is "ready to come to the negotiating table for peace as soon as possible."

While addressing a joint session of Congress, Trump also mentioned having "some serious" discussions with Russia. He noted that Moscow strongly indicated it is "ready for peace."

“We received an important letter from the Ukrainian President saying we are ready to work under the US President for peace and regarding the agreement on minerals. Simultaneously, we received signals from Russia that they were ready for peace," stated President Donald Trump.

He praised Zelenskyy's peace making efforts. “Wouldn’t that be beautiful? Time to halt the killing, stop the madness, and time to stop the war," US President's statement put an end to speculation about the peace deal.

Trump remarked on the ongoing developments in the Middle East and emphasised his efforts to end the brutal conflict in Ukraine, where he claimed millions of Ukrainians and Russians have been killed or injured in a war that seems to have no resolution in sight. He also criticised European leaders for spending more on purchasing Russian oil and gas than on supporting Ukraine’s defence in its war against Russia.

Over the weekend, European nations reaffirmed their strong backing for Kyiv following a widely reported heated exchange between Ukrainian President Volodymyr Zelenskyy and Trump in the Oval Office last Friday.

A Finland-based Centre for Research on Energy and Clean Air (CREA) study found that European Union nations spent around €21.9 billion ($23 billion) on Russian fossil fuels last year. This marks just a 1% decline from the previous year and is slightly more than the €18.7 billion ($19.6 billion) in aid that Europe provided to Ukraine in 2024, as per data from the Kiel Institute for the World Economy.

Russia earned approximately €242 billion ($253.8 billion) from petroleum and other fossil fuels last year, bringing its total revenue to around €847 billion ($888.5 billion) since it invaded Ukraine in 2022.